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Domestic News
January 10, 1804
The New Hampshire Gazette
Portsmouth, Rockingham County, New Hampshire
What is this article about?
The U.S. House Committee of Ways and Means reports that discontinuing the office of commissioner of loans in the states is inexpedient, as it could impair public credit and breach faith under the August 4, 1790, debt provision act.
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Full Text
REPORT.
The committee of ways and means, who were instructed to enquire into the expediency of discontinuing the office of commissioner of loans in the different states, REPORT,
That conceiving this establishment may be considered as a part of the contract between the public and its creditors, which is contained in the act "making provision for the debt of the United States," passed the 4th day of August, 1790; believing that the abolition of the loan offices, by impeding the facility of transferring the debt, may tend, in some degree, to impair its value; unwilling to advise a measure which may in any manner, however remote, affect the public credit, or which may be construed into a breach of the public faith, the committee respectfully recommended the following resolution:
Resolved, That it is inexpedient to discontinue the office of commissioner of loans in the several states.
The committee of ways and means, who were instructed to enquire into the expediency of discontinuing the office of commissioner of loans in the different states, REPORT,
That conceiving this establishment may be considered as a part of the contract between the public and its creditors, which is contained in the act "making provision for the debt of the United States," passed the 4th day of August, 1790; believing that the abolition of the loan offices, by impeding the facility of transferring the debt, may tend, in some degree, to impair its value; unwilling to advise a measure which may in any manner, however remote, affect the public credit, or which may be construed into a breach of the public faith, the committee respectfully recommended the following resolution:
Resolved, That it is inexpedient to discontinue the office of commissioner of loans in the several states.
What sub-type of article is it?
Politics
Economic
What keywords are associated?
Committee Of Ways And Means
Commissioner Of Loans
Public Debt
Loan Offices
Where did it happen?
United States
Domestic News Details
Primary Location
United States
Event Date
1790 08 04
Outcome
recommended resolution: inexpedient to discontinue the office of commissioner of loans.
Event Details
Committee of ways and means reports on inquiry into discontinuing commissioner of loans offices, viewing it as part of public debt contract from 1790 act, potentially impairing debt value and public credit.